William Sumner
Today, MJIC Inc. announced that it had completed its quarterly rebalancing of the U.S. and Canadian Marijuana Index. Adding four companies in total, the company added General Cannabis Corp. (CANN) and Liberty Health Sciences (LHSIF) to the U.S. Index and added Hiku Brands Company Ltd. (HIKU) and Isodiol International Inc. (ISOL) to the Canadian Index.
Liberty Health Sciences is a medical cannabis company that has been expanding considerably in states like Florida. Earlier this year, the company closed the acquisition of a 387-acre parcel of land that will serve as a medical cannabis greenhouse and processing facility.
As a holding company, General Cannabis offers a multitude of services to the cannabis industry through its various subsidiaries. Most recently, the company was able to pay down the remainder of its outstanding debt and its client Green Leaf Medical successfully harvest its first crop.
Hiku Brands is a vertically integrated cannabis company with a focus on high-end cannabis brands, such as its wholly owned subsidiary Tokyo Smoke. Earlier this year the company was added to the Green Market Report Cannabis Index. Most recently the company acquired the medical cannabis producer/distributor WeedMD.
Isodiol International Inc. specializes in CBD-based products. In recent months the company has taken vigorous steps to establish a foothold in both international and domestic markets. Currently, the company has commenced the development of an organic hemp processing facility for the extraction of CBD and terpenes in China.
Since the previous quarter, the minimum trading requirements for companies to become listed on the Marijuana Index have increased. Companies must now reach a weighted average minimum market capitalization of $80 million USD, the daily trading volume of $2 million USD, and a share price of at least $1.00 USD. Companies can be exempt from the trading requirements if they have a revenue over the previous year of at least $5 million USD.
